Join our daily newsletter At The Bell to receive exclusive market insights
WiseTech Global has announced the acquisition of Xware, a messaging integration solution provider in Sweden.
Xware’s messaging solution,
This is essential for real-time messaging, queued business flows and data integration. Its products are also used in the integration of complex applications in specialised sectors such as defence.
Customers using the technology include the Swedish Armed Forces, Stockholm City Council and Greencarrier Freight Services.
The purchase costs totals $12 million upfront with a further expected multi-year potential of $11.2 million in relation to business integration, strategic objectives and revenue performance.
WiseTech in a global developer of cloud-based software solutions for both the domestic and international logistic industries.
Its product CargoWise One is a single-platform software solution designed to increase productivity and improve integration, automation and communication within the supply chain.
It integrates businesses with their customers and partners in a streamlined process to increase efficiency, visibility and profitability of the company. WiseTech CEO Richard White hopes this acquisition will enhance the company.
“We are acquiring Xware to enhance our messaging gateway and ensure we have greater control over the future development, quality and scalability of this key messaging technology,” he said.
This transaction adds to WiseTech’s growing customer base in locations such as Turkey, Argentina, United Kingdom, France and Canada.
